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Information for Canvas Assignment 5 - Basic Individual Tax Return John Doe, Single, age 36 123 Main Street, Knoxville TN 37922 Date of birth -- 5/29/83 SSAN 123-45-6789 W-2 Information (go back to Payroll Accounting on W-2 information if needed) Wages $75,351 Federal withholding S 9605 Social security wages 75351 Social security withholding 4672 Medicare wages 75,351 Medicare withholding 1093 Other financial information: Interest Income- XYZ Bank - 265; ABC Bank -275, from savings accounts Alimony paid - 650/month for 10 months under 2/21/20 divorce decree - paid to Jane Doe SSAN 987-65-4321 Other 2020 expenses: Home mortgage interest - 7670 Auto loan interest 1325 Credit card interest - 730 Property tax on residence 2342 State income taxes 2050 Unreimbursed hospital bill 6300 Doctor bills 2760 Other qualifying medical exp. 725 Income tax preparation fee 425 Job hunting expense 925 Cash donations to church 885 Casualty loss -Theft of personal property that cost 9000 and had a fair value of 15750 Prepare a 1040 and any necessary schedules, including Schedule A for John Doe for 2020 Prepare a basic individual tax return from the information provided in the module. Refer to the form 1040 and the related instructions. You should work this out manually to gain a better understanding of how the information ties together; do not use TurboTax or any other software where tax liability is automatically calculated from the information input to it. You have sufficient information to calculate gross income, adjusted gross income, tax liability and amount due/refund with the return. Clearly, all lines on the 1040 and its schedules will not be needed, but make any assumptions you need. Information for Canvas Assignment 5 - Basic Individual Tax Return John Doe, Single, age 36 123 Main Street, Knoxville TN 37922 Date of birth -- 5/29/83 SSAN 123-45-6789 W-2 Information (go back to Payroll Accounting on W-2 information if needed) Wages $75,351 Federal withholding S 9605 Social security wages 75351 Social security withholding 4672 Medicare wages 75,351 Medicare withholding 1093 Other financial information: Interest Income- XYZ Bank - 265; ABC Bank -275, from savings accounts Alimony paid - 650/month for 10 months under 2/21/20 divorce decree - paid to Jane Doe SSAN 987-65-4321 Other 2020 expenses: Home mortgage interest - 7670 Auto loan interest 1325 Credit card interest - 730 Property tax on residence 2342 State income taxes 2050 Unreimbursed hospital bill 6300 Doctor bills 2760 Other qualifying medical exp. 725 Income tax preparation fee 425 Job hunting expense 925 Cash donations to church 885 Casualty loss -Theft of personal property that cost 9000 and had a fair value of 15750 Prepare a 1040 and any necessary schedules, including Schedule A for John Doe for 2020 Prepare a basic individual tax return from the information provided in the module. Refer to the form 1040 and the related instructions. You should work this out manually to gain a better understanding of how the information ties together; do not use TurboTax or any other software where tax liability is automatically calculated from the information input to it. You have sufficient information to calculate gross income, adjusted gross income, tax liability and amount due/refund with the return. Clearly, all lines on the 1040 and its schedules will not be needed, but make any assumptions you need

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